Proposed $4-million project in Fenton to serve as first step to revitalize downtown

Courtesy photoA drawing of the proposed Cornerstone building in downtown Fenton. Courtesy of Stephen Auger and Associates Architects of Lake Orion.

FENTON, Michigan — A major developer is planning a $4-million, three-story brick building to anchor Fenton’s major downtown intersection.

The proposed $4 million, 30,000-square-foot building being built at North Leroy Street and Silver Lake Road — already named simply Cornerstone — is the first step for the city to restore a classic downtown feel to the area, where 19th century buildings were razed as part of “urban renewal” in the 1970s.

The building will feature a combination of restaurants, retail space, offices and apartments. The development is being headed by The Saab Group, a company that has built multiple retail and commercial developments.

“It’s the city we grew up in and we love to do anything to make it better,” said Ghassan Saab, project coordinator who lives in Fenton Township. “Not only do we have the experience we have the emotional connection to Fenton.”

Construction is expected to begin in the spring. There already are several potential tenants interested in the project, but officials declined to name them.

Craig Schmidt, Downtown Development Authority chairman, said the Cornerstone will bring in tax dollars, jobs and revitalize the downtown.

“That’s the building that you put on your corner that you want to last 100 years,” Schmidt said.

The Cornerstone building is the first phase of the DDA’s ultimate goal to build three three-story brick buildings along the east side of North Leroy Street from Silver Lake Road to the Fenton United Methodist Church, bringing back the traditional downtown look of storefronts along the street with parking in the back.

Fenton was among cities nationwide that demolished its downtown buildings as part of a fad in the 1970s. It also closed Leroy Street and created an outdoor mall, but the ill-fated project fragmented the central business district and many businesses closed or relocated.

The Cornerstone building is a giant leap forward toward rebuilding, city officials said.

“That’s the way the downtown was and that’s the way it worked better,” said Mayor Sue Osborn. “I think this will bring people downtown again.”

The Saab Group is purchasing the property for $1 from the Downtown Development Authority. The project also will likely receive tax incentives from the DDA, which also could pay for demolishing the old Republic Bank building and parking upgrades at the site.

View full sizeCourtesy photoA drawing of the proposed Cornerstone building in Fenton looking northeast. Courtesy of Stephen Auger and Associates Architects of Lake Orion.

The city estimates the project could bring in $116,000 in new taxes annually, not including personal property taxes, said Michael T. Burns, assistant city manager and DDA director.

“While we’re making this investment. It’s going to pay for itself over time,” Burns said.

Cornerstone also is a key component in the DDA’s efforts to highlight its downtown and make Fenton a destination for visitors.

“Once we get the (Michigan) Brewing Company in and we get a couple restaurants in this building, I’m telling you overnight we’re Milford or Brighton and then we become a destination and then everything else starts rolling,” Schmidt said. “And it will.”

About the proposed project:

• Estimated $4-million project

• To be named Cornerstone

• Three story, 30,000-square foot building

• Located at the corner of North Leroy Street and Silver Lake Road

• Includes 10,000-square feet of retail/dinning, 10,000-square feet of office space and 10,000-square feet of residential

• First of three, three-story brick buildings the city wants to see built along the east side of North Leroy Street

About the developer:

• The Saab Group consists of Khalil Saab, who is also vice president of international construction with Sorensen and Gross Construction Services of Flint Township, 62, of Fenton Township, and his children Ghassan, 25, of Fenton Township and Elisabeth, 31, Flint.

• Developments include Lincor Plaza shopping center in Flint Township as well as Golfview Pointe and Torrey Grove residential developments in Fenton Township.